Pool Asset Administration. þ Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents. þ Pool assets and related documents are safeguarded as required by the transaction agreements. þ Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. þ Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the applicable servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related asset documents. þ Greenpoint Mortgage Funding, Inc.’s records regarding the pool assets agree with the servicer’s records with respect to an obligor’s unpaid principal balance. þ Changes with respect to the terms or status of an obligor’s pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. þ Loss mitigation or recovery actions (e.g. forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. þ Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe Greenpoint Mortgage Funding, Inc.’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). þ Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents. þ Regarding any funds held in trust for an obligor (such as escrow accounts): (A) Such funds are analyzed, in accordance with the obligor’s pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) Interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) Such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the transaction agreements. þ Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by Greenpoint Mortgage Funding, Inc. at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. þ Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from Greenpoint Mortgage Funding, Inc.’s funds and not charged to the obligor, unless the late payment was due to obligor’s error or omission. þ Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by Greenpoint Mortgage Funding, Inc., or such other number of days specified in the transaction agreements. þ Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. þ Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. I, [identify the certifying individual], certify to the Purchaser and to the Master Servicer and their officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that: 1. Based on my knowledge, the servicing information required to be provided to the Master Servicer and the Trustee by the Servicer under the Pooling and Servicing Agreement has been so provided; 2. I am responsible for reviewing the activities performed by the Servicer under the Pooling and Servicing Agreement and based upon my knowledge and the annual compliance review required under the Pooling and Servicing Agreement, and except as disclosed in the Annual Compliance Statement, Annual Assessment of Compliance and the Annual Attestation Report delivered to the Master Servicer in accordance with the terms of the Pooling and Servicing Agreement, the Servicer has, as of the date of this certification, fulfilled its obligations under the Pooling and Servicing Agreement: 3. Based on my knowledge, the information in the Annual Compliance Statement, the Annual Assessment of Compliance, the Annual Attestation and all servicing reports, officer’s certificates and other information relating to the servicing of the Mortgage Loans submitted to the Master Servicer , to the extent included in or relied upon in connection with any information included in any Form 8-Ks, Form 10-Ds, Form 10-Ks or similar forms required by the Securities and Exchange Commission (the “SEC”) from time to time, or incorporated by reference in any prospectus filed with the SEC, for the period covered by the Annual Assessment of Compliance, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the date of this certification; 4. I am responsible for reviewing the activities performed by the Seller as servicer under the Agreement and based on my knowledge and the compliance review conducted in preparing the Compliance Statement and except as disclosed in the Compliance Statement, the Assessment of Compliance or the Attestation Report, Seller has fulfilled its obligations under the Agreement in all material respects.
Appears in 1 contract
Sources: Mortgage Loan Flow Purchase, Sale, and Servicing Agreement (Sequoia Mortgage Trust 2007-1)
Pool Asset Administration. þ Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents. þ Pool assets and related documents are safeguarded as required by the transaction agreements. þ Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. þ Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the applicable servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related asset documents. þ Greenpoint Mortgage Funding, Inc.PHH Mortgage’s records regarding the pool assets agree with the servicerPHH Mortgage’s records with respect to an obligor’s unpaid principal balance. þ Changes with respect to the terms or status of an obligor’s pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. þ Loss mitigation or recovery actions (e.g. forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. þ Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe Greenpoint Mortgage Funding, Inc.PHH Mortgage’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). þ Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents. þ Regarding any funds held in trust for an obligor (such as escrow accounts):
(A) Such funds are analyzed, in accordance with the obligor’s pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements;
(B) Interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and
(C) Such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the transaction agreements. þ Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by Greenpoint PHH Mortgage Funding, Inc. at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. þ Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from Greenpoint Mortgage Funding, Inc.PHH Mortgage’s funds and not charged to the obligor, unless the late payment was due to obligor’s error or omission. þ Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by Greenpoint Mortgage Funding, Inc.PHH Mortgage, or such other number of days specified in the transaction agreements. þ Delinquencies, charge-offs and uncollectible accounts amounts are recognized and recorded in accordance with the transaction agreements. þ Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. Re: The Mortgage Loan Flow Purchase, Sale and Servicing Agreement dated as of January 1, 2006 between RWT Holdings, Inc., as Purchaser; PHH Mortgage Corporation and B▇▇▇▇▇’▇ Gate Residential Mortgage Trust, as Sellers; and Redwood Trust, Inc. as Guarantor I, [identify , the certifying individual]of PHH Mortgage Corporation (the “Servicer”), certify to the Purchaser Purchaser, any Depositor, and to the Master Servicer Servicer, and their officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that:
1. Based on my knowledge, (i) I have reviewed the servicing information required to be provided to the Master Servicer and the Trustee by servicer compliance statement of the Servicer under the Pooling and Servicing Agreement has been so provided;
2. I am responsible for reviewing the activities performed by the Servicer under the Pooling and Servicing Agreement and based upon my knowledge and the annual compliance review required under the Pooling and Servicing Agreement, and except as disclosed in the Annual Compliance Statement, Annual Assessment of Compliance and the Annual Attestation Report delivered to the Master Servicer provided in accordance with Item 1123 of Regulation AB (the terms “Compliance Statement”), the report on assessment of the Pooling Servicer’s compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance with Rules 13a-18 and Servicing Agreement, the Servicer has15d-18 under Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Item 1122 of Regulation AB (the date of this certification, fulfilled its obligations under the Pooling and Servicing Agreement:
3. Based on my knowledge, the information in the Annual Compliance Statement, the Annual “Assessment of Compliance”), the Annual registered public accounting firm’s attestation report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB (the “Attestation Report”), and all other data, servicing reports, officer’s certificates and other information relating to the servicing performance of the Mortgage Loans submitted Servicer under the terms of the Agreement during 200[ ] that were delivered to the Master Servicer , pursuant to the extent included in or relied upon in connection with any information included in any Form 8-KsAgreement (collectively, Form 10-Ds, Form 10-Ks or similar forms required by the Securities and Exchange Commission (the “SECServicing Information”);
(ii) from time to timeBased on my knowledge, or incorporated by reference in any prospectus filed with the SEC, for the period covered by the Annual Assessment of ComplianceServicing Information, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in the light of the circumstances under which such statements were made, not misleading as of the period covered by or the date of such reports or information or the date of this certification;
4. (iii) Based on my knowledge, all of the Servicing Information required to be provided by the Servicer under the Agreement has been provided to the Master Servicer and the Purchaser;
(iv) I am responsible for reviewing the activities performed by the Seller as servicer Servicer under the Agreement Agreement, and based on my knowledge and the compliance review conducted in preparing the Compliance Statement and except as disclosed in the Compliance Statement, the Assessment of Compliance or the Attestation Report, Seller the Servicer has fulfilled its obligations under the Agreement in all material respects; and
(v) The Compliance Statement, the Assessment of Compliance and Attestation Report required to be provided by the Servicer pursuant to the Agreement, have been provided to the Master Servicer and the Purchaser. The Assessment of Compliance and the Attestation Report cover all items of the servicing criteria identified on Exhibit 11 to the Agreement as applicable to the Servicer. Any material instances of noncompliance described in such reports have been disclosed to the Master Servicer and to the Purchaser. Any material instance of noncompliance with the Servicing Criteria has been disclosed in such reports. PHH MORTGAGE CORPORATION (Servicer) By: Name: Title: Date: THIS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT, dated as of May 25, 2007 (the “Assignment”), is entered into among Sequoia Residential Funding, Inc. (the “Assignor”), PHH Mortgage Corporation (formerly known as Cendant Mortgage Corporation) (“PHH”) and B▇▇▇▇▇’▇ Gate Residential Mortgage Trust (formerly known as Cendant Residential Mortgage Trust), as the sellers (the “Sellers”), and PHH, as the servicer (the “Servicer”), and HSBC Bank USA, National Association (“HSBC Bank”) as Trustee under a Pooling and Servicing Agreement dated as of May 1, 2007 (the “Pooling and Servicing Agreement”), among the Assignor, as Depositor, HSBC Bank (in such Trustee capacity, the “Assignee”), and W▇▇▇▇ Fargo Bank, N. A., as Master Servicer and Securities Administrator.
Appears in 1 contract
Sources: Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Sequoia Mortgage Trust 2007-2)
Pool Asset Administration. þ Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents. þ Pool assets and related documents are safeguarded as required by the transaction agreements. þ Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. þ Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the applicable servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related asset documents. þ Greenpoint Mortgage Funding, Inc.PHH Mortgage’s records regarding the pool assets agree with the servicerPHH Mortgage’s records with respect to an obligor’s unpaid principal balance. þ Changes with respect to the terms or status of an obligor’s pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. þ Loss mitigation or recovery actions (e.g. forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. þ Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe Greenpoint Mortgage Funding, Inc.PHH Mortgage’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). þ Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents. þ Regarding any funds held in trust for an obligor (such as escrow accounts):
(A) Such funds are analyzed, in accordance with the obligor’s pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements;
(B) Interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and
(C) Such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the transaction agreements. þ Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by Greenpoint PHH Mortgage Funding, Inc. at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. þ Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from Greenpoint Mortgage Funding, Inc.PHH Mortgage’s funds and not charged to the obligor, unless the late payment was due to obligor’s error or omission. þ Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by Greenpoint Mortgage Funding, Inc.PHH Mortgage, or such other number of days specified in the transaction agreements. þ Delinquencies, charge-offs and uncollectible accounts amounts are recognized and recorded in accordance with the transaction agreements. þ Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. Re: The Mortgage Loan Flow Purchase, Sale and Servicing Agreement dated as of January 1, 2006 between RWT Holdings, Inc., as Purchaser; PHH Mortgage Corporation and ▇▇▇▇▇▇’▇ Gate Residential Mortgage Trust, as Sellers; and Redwood Trust, Inc. as Guarantor I, [identify ___________________________, the certifying individual]__________________ of PHH Mortgage Corporation (the “Servicer”), certify to the Purchaser Purchaser, any Depositor, and to the Master Servicer Servicer, and their officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that:
1. Based on my knowledge, (i) I have reviewed the servicing information required to be provided to the Master Servicer and the Trustee by servicer compliance statement of the Servicer under the Pooling and Servicing Agreement has been so provided;
2. I am responsible for reviewing the activities performed by the Servicer under the Pooling and Servicing Agreement and based upon my knowledge and the annual compliance review required under the Pooling and Servicing Agreement, and except as disclosed in the Annual Compliance Statement, Annual Assessment of Compliance and the Annual Attestation Report delivered to the Master Servicer provided in accordance with Item 1123 of Regulation AB (the terms “Compliance Statement”), the report on assessment of the Pooling Servicer’s compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance with Rules 13a-18 and Servicing Agreement, the Servicer has15d-18 under Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Item 1122 of Regulation AB (the date of this certification, fulfilled its obligations under the Pooling and Servicing Agreement:
3. Based on my knowledge, the information in the Annual Compliance Statement, the Annual “Assessment of Compliance”), the Annual registered public accounting firm’s attestation report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB (the “Attestation Report”), and all other data, servicing reports, officer’s certificates and other information relating to the servicing performance of the Mortgage Loans submitted Servicer under the terms of the Agreement during 200[ ] that were delivered to the Master Servicer , pursuant to the extent included in or relied upon in connection with any information included in any Form 8-KsAgreement (collectively, Form 10-Ds, Form 10-Ks or similar forms required by the Securities and Exchange Commission (the “SECServicing Information”);
(ii) from time to timeBased on my knowledge, or incorporated by reference in any prospectus filed with the SEC, for the period covered by the Annual Assessment of ComplianceServicing Information, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in the light of the circumstances under which such statements were made, not misleading as of the period covered by or the date of such reports or information or the date of this certification;
4. (iii) Based on my knowledge, all of the Servicing Information required to be provided by the Servicer under the Agreement has been provided to the Master Servicer and the Purchaser;
(iv) I am responsible for reviewing the activities performed by the Seller as servicer Servicer under the Agreement Agreement, and based on my knowledge and the compliance review conducted in preparing the Compliance Statement and except as disclosed in the Compliance Statement, the Assessment of Compliance or the Attestation Report, Seller the Servicer has fulfilled its obligations under the Agreement in all material respects; and
(v) The Compliance Statement, the Assessment of Compliance and Attestation Report required to be provided by the Servicer pursuant to the Agreement, have been provided to the Master Servicer and the Purchaser. The Assessment of Compliance and the Attestation Report cover all items of the servicing criteria identified on Exhibit 11 to the Agreement as applicable to the Servicer. Any material instances of noncompliance described in such reports have been disclosed to the Master Servicer and to the Purchaser. Any material instance of noncompliance with the Servicing Criteria has been disclosed in such reports. PHH MORTGAGE CORPORATION (Servicer) By: Name: Title: Date: THIS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT, dated as of May 25, 2007 (the “Assignment”), is entered into among Sequoia Residential Funding, Inc. (the “Assignor”), PHH Mortgage Corporation (formerly known as Cendant Mortgage Corporation) ("PHH") and ▇▇▇▇▇▇’▇ Gate Residential Mortgage Trust (formerly known as Cendant Residential Mortgage Trust), as the sellers (the “Sellers”), and PHH, as the servicer (the “Servicer”), and HSBC Bank USA, National Association (“HSBC Bank”) as Trustee under a Pooling and Servicing Agreement dated as of May 1, 2007 (the “Pooling and Servicing Agreement”), among the Assignor, as Depositor, HSBC Bank (in such Trustee capacity, the “Assignee”), and ▇▇▇▇▇ Fargo Bank, N. A., as Master Servicer and Securities Administrator.
Appears in 1 contract
Sources: Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Sequoia Mortgage Trust 2007-3)
Pool Asset Administration. þ Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents. þ Pool assets and related documents are safeguarded as required by the transaction agreements. þ Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. þ Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the applicable servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related asset documents. þ Greenpoint Mortgage Funding, Inc.’s records regarding the pool assets agree with the servicer’s records with respect to an obligor’s unpaid principal balance. þ Changes with respect to the terms or status of an obligor’s pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. þ Loss mitigation or recovery actions (e.g. forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. þ Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe Greenpoint Mortgage Funding, Inc.’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). þ Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents. þ Regarding any funds held in trust for an obligor (such as escrow accounts):
(A) Such funds are analyzed, in accordance with the obligor’s pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements;
(B) Interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and
(C) Such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the transaction agreements. þ Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by Greenpoint Mortgage Funding, Inc. at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. þ Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from Greenpoint Mortgage Funding, Inc.’s funds and not charged to the obligor, unless the late payment was due to obligor’s error or omission. þ Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by Greenpoint Mortgage Funding, Inc., or such other number of days specified in the transaction agreements. þ Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. þ Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. I, [identify the certifying individual], certify to the Purchaser and to the Master Servicer and their officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that:
1. Based on my knowledge, the servicing information required to be provided to the Master Servicer and the Trustee by the Servicer under the Pooling and Servicing Agreement has been so provided;
2. I am responsible for reviewing the activities performed by the Servicer under the Pooling and Servicing Agreement and based upon my knowledge and the annual compliance review required under the Pooling and Servicing Agreement, and except as disclosed in the Annual Compliance Statement, Annual Assessment of Compliance and the Annual Attestation Report delivered to the Master Servicer in accordance with the terms of the Pooling and Servicing Agreement, the Servicer has, as of the date of this certification, fulfilled its obligations under the Pooling and Servicing Agreement:
3. Based on my knowledge, the information in the Annual Compliance Statement, the Annual Assessment of Compliance, the Annual Attestation and all servicing reports, officer’s certificates and other information relating to the servicing of the Mortgage Loans submitted to the Master Servicer , to the extent included in or relied upon in connection with any information included in any Form 8-Ks, Form 10-Ds, Form 10-Ks or similar forms required by the Securities and Exchange Commission (the “SEC”) from time to time, or incorporated by reference in any prospectus filed with the SEC, for the period covered by the Annual Assessment of Compliance, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the date of this certification;
4. I am responsible for reviewing the activities performed by the Seller as servicer under the Agreement and based on my knowledge and the compliance review conducted in preparing the Compliance Statement and except as disclosed in the Compliance Statement, the Assessment of Compliance or the Attestation Report, Seller has fulfilled its obligations under the Agreement in all material respects.
Appears in 1 contract
Sources: Mortgage Loan Flow Purchase, Sale, and Servicing Agreement (Sequoia Mortgage Trust 2007-4)
Pool Asset Administration. þ Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents. þ Pool assets and related documents are safeguarded as required by the transaction agreements. þ Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. þ Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the applicable servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related asset documents. þ Greenpoint Mortgage Funding, Inc.PHH Mortgage’s records regarding the pool assets agree with the servicerPHH Mortgage’s records with respect to an obligor’s unpaid principal balance. þ Changes with respect to the terms or status of an obligor’s pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. þ Loss mitigation or recovery actions (e.g. forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. þ Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe Greenpoint Mortgage Funding, Inc.PHH Mortgage’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). þ Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents. þ Regarding any funds held in trust for an obligor (such as escrow accounts):
(A) Such funds are analyzed, in accordance with the obligor’s pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements;
(B) Interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and
(C) Such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the transaction agreements. þ Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by Greenpoint PHH Mortgage Funding, Inc. at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. þ Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from Greenpoint Mortgage Funding, Inc.PHH Mortgage’s funds and not charged to the obligor, unless the late payment was due to obligor’s error or omission. þ Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by Greenpoint Mortgage Funding, Inc.PHH Mortgage, or such other number of days specified in the transaction agreements. þ Delinquencies, charge-offs and uncollectible accounts amounts are recognized and recorded in accordance with the transaction agreements. þ Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. Re: The Mortgage Loan Flow Purchase, Sale and Servicing Agreement dated as of January 1, 2006 between RWT Holdings, Inc., as Purchaser; PHH Mortgage Corporation and ▇▇▇▇▇▇’▇ Gate Residential Mortgage Trust, as Sellers; and Redwood Trust, Inc. as Guarantor I, [identify ___________________________, the certifying individual]__________________of PHH Mortgage Corporation (the “Servicer”), certify to the Purchaser Purchaser, any Depositor, and to the Master Servicer Servicer, and their officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that:
1. Based on my knowledge, (i) I have reviewed the servicing information required to be provided to the Master Servicer and the Trustee by servicer compliance statement of the Servicer under the Pooling and Servicing Agreement has been so provided;
2. I am responsible for reviewing the activities performed by the Servicer under the Pooling and Servicing Agreement and based upon my knowledge and the annual compliance review required under the Pooling and Servicing Agreement, and except as disclosed in the Annual Compliance Statement, Annual Assessment of Compliance and the Annual Attestation Report delivered to the Master Servicer provided in accordance with Item 1123 of Regulation AB (the terms “Compliance Statement”), the report on assessment of the Pooling Servicer’s compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance with Rules 13a-18 and Servicing Agreement, the Servicer has15d-18 under Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Item 1122 of Regulation AB (the date of this certification, fulfilled its obligations under the Pooling and Servicing Agreement:
3. Based on my knowledge, the information in the Annual Compliance Statement, the Annual “Assessment of Compliance”), the Annual registered public accounting firm’s attestation report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB (the “Attestation Report”), and all other data, servicing reports, officer’s certificates and other information relating to the servicing performance of the Mortgage Loans submitted Servicer under the terms of the Agreement during 200[ ] that were delivered to the Master Servicer , pursuant to the extent included in or relied upon in connection with any information included in any Form 8-KsAgreement (collectively, Form 10-Ds, Form 10-Ks or similar forms required by the Securities and Exchange Commission (the “SECServicing Information”);
(ii) from time to timeBased on my knowledge, or incorporated by reference in any prospectus filed with the SEC, for the period covered by the Annual Assessment of ComplianceServicing Information, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in the light of the circumstances under which such statements were made, not misleading as of the period covered by or the date of such reports or information or the date of this certification;
4. (iii) Based on my knowledge, all of the Servicing Information required to be provided by the Servicer under the Agreement has been provided to the Master Servicer and the Purchaser;
(iv) I am responsible for reviewing the activities performed by the Seller as servicer Servicer under the Agreement Agreement, and based on my knowledge and the compliance review conducted in preparing the Compliance Statement and except as disclosed in the Compliance Statement, the Assessment of Compliance or the Attestation Report, Seller the Servicer has fulfilled its obligations under the Agreement in all material respects; and
(v) The Compliance Statement, the Assessment of Compliance and Attestation Report required to be provided by the Servicer pursuant to the Agreement, have been provided to the Master Servicer and the Purchaser. The Assessment of Compliance and the Attestation Report cover all items of the servicing criteria identified on Exhibit 11 to the Agreement as applicable to the Servicer. Any material instances of noncompliance described in such reports have been disclosed to the Master Servicer and to the Purchaser. Any material instance of noncompliance with the Servicing Criteria has been disclosed in such reports. PHH MORTGAGE CORPORATION (Servicer) By: Name: Title: Date: THIS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT, dated as of August 30, 2007 (the “Assignment”), is entered into among Sequoia Residential Funding, Inc. (the “Assignor”), PHH Mortgage Corporation (formerly known as Cendant Mortgage Corporation) ("PHH"), as the servicer (the “Servicer”), and HSBC Bank USA, National Association (“HSBC Bank”) as Trustee under a Pooling and Servicing Agreement dated as of August 1, 2007 (the “Pooling and Servicing Agreement”), among the Assignor, as Depositor, HSBC Bank (in such Trustee capacity, the “Assignee”), and ▇▇▇▇▇ Fargo Bank, N. A., as Master Servicer and Securities Administrator.
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Sources: Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Sequoia Mortgage Trust 2007-4)